Dec 20, 2013, 11:03 AM EDT
The idea behind tax credits and other tax incentives is to convince businesses to invest in the jurisdiction over which the taxing authority holds sway. When the business is already committed to investing in the area and there is no danger of losing said investment to another jurisdiction, there is little reason to grant that business tax credits and incentives. To do so is pretty gratuitous, actually.
Jim Walls at Atlanta Magazine has secured some documentsshowing “negotiators for Cobb County and the Braves considered funding packages that included up to $60 million in state tax credits on top of the $300 million in county funding.” . . . another incentive, created especially for new tourism destinations, that can be granted only by the governor. If the team were approved for the program, it could earn the Braves a 10-year rebate on all sales taxes it collected at the new stadium – perhaps $20 million.
The Braves are absolutely undoubtedly staying within the state of Georgia. They have committed to it. There is no going back to Wisconsin or Massachusetts. They’re building a stadium in Cobb County. Yet I wouldn’t bet a pair of fetid dingo’s kidneys that Georgia won’t give them the tax credits they want. Because governments — especially when sports are involved — have totally forgotten what the whole point of using the tax system as a means of incentive creation and have committed to straight corporate welfare. It’s pretty gobsmacking.
- Mariners prospect Victor Sanchez has died 21
- 2015 Preview: Chicago White Sox 15
- Did David Ortiz admit to more than he realized with his Players’ Tribune editorial? 83
- 2015 Preview: Atlanta Braves 15
- David Ortiz: “Nobody in MLB history has been tested for PEDs more than me” 118
- 2015 Preview: Chicago Cubs 14
- Unsigned 2014 No. 1 overall pick Brady Aiken undergoes Tommy John surgery 61
- 2015 Preview: Seattle Mariners 15
- Ex-Cardinals outfielder Curt Ford was assaulted in St. Louis and told to “go back to Ferguson” (122)
- David Ortiz: “Nobody in MLB history has been tested for PEDs more than me” (118)
- College baseball player cut after making offensive tweet about Mo’ne Davis (115)
- Rob Manfred says it would be hard to reinstate Pete Rose in a limited way (89)
- Mo’ne Davis says college ballplayer who wrote an offensive tweet about her deserves a second chance (88)